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IBAN in Ukraine

From August 5, 2019 in accordance with the resolutions of the National Bank of Ukraine No. 162 dated 28.12.2018 and No. 41 dated 22.02.2019, an International Bank Account Number (IBAN), which consists of 29 alphanumeric characters, is introduced in Ukraine.

IBAN in Ukraine is formed according to the national standard (29 characters):

UA – (two letters) - the code of Ukraine;
YY – two control digits (calculated in accordance with the calculation algorithm);
MMMMMM – bank code (MFO) (for example, 300658 for JSC «PIRAEUS BANK ICB»);
00000 – zeros, which complement the total number of characters up to 29;
XXXXXXXXXXXXXX – customer account (if the customer's account is shorter than 14 characters, the number of zeros in the amount required to bring the account up to 14 characters is added before the account).

Example of IBAN account: UA453006580000026201234567891
Example of creating an active account in IBAN format:
Current account number - 26201122334455
The account after transfer to IBAN format - UA453006580000026201122334455

From 05 August, 2019 JSC «PIRAEUS BANK ICB» will open for Customers new accounts only in accordance with the requirements of the IBAN standard.

At the same time, from August 5, 2019 to October 31, 2019 there will be a transition period for ustomers who opened accounts until 05.08.2019, during which payments can be made using the format: MFO + account number or IBAN.

During the transition period, if the Customer to whom the accounts were opened before August 5, 2019 did not apply to the Bank for the formation of the current account in IBAN format, the Bank will gradually transfer all accounts to IBAN format by October 31, 2019 and inform the State Fiscal Service about changes in the details of the accounts of individual entrepreneurs, legal entities and other taxpayers whose accounts are subject to registration with the Controlling Service.
Also, updated information regarding social accounts will be transferred to the Pension Fund of Ukraine and the relevant population social protection services.

Starting from November 1, 2019 the use of the IBAN will be obligatory for customers of all Ukrainian banks for settlements both in national and foreign currencies, including cross-border transfers. As a result all transfers from November 1, 2019 will only be operated using the IBAN.

We would like to draw your attention to the fact that information regarding transferring the account to IBAN format can be found out at the Bank's branches.

Additionally we recommend to get acquainted with the Information of the National Bank of Ukraine regarding the introduction of the IBAN.

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